MGI gets licence to run CEZ

The Meghna Group of Industries (MGI) received final licence for operating the Cumilla Economic Zone (CEZ) from the Bangladesh Economic Zones Authority (BEZA) at a ceremony held at a city hotel on Sunday.

The CEZ is expected to create employment opportunities for around 50,000 people and draw investment worth US$ 2.0 billion.

Md Tofazzel Hossain Miah, chief guest of the ceremony and Senior Secretary to the Prime Minister's Office, handed over the documents to MGI Director Tanvir Ahmed Mostafa.

MGI Chairman and Managing Director Mostafa Kamal and BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman attended the programme as the special guests.

BEZA Executive Chairman Shaikh Yusuf Harun presided over the ceremony.

Speaking on the occasion, Mr Tofazzel Hossain Miah said the EZs in the country are becoming game-changers of the economy.

"A cascading effect of the EZs will bring revolution in the country."

He urged the industrialists to invest in diversified sectors, including logistics, which are necessary for sustainable development.

Mr Shaikh Yusuf Harun said the government is working to establish 100 EZs in the country to create jobs for 10 million people.

Hailing the role of private sector, he noted that altogether the private EZs have so far drawn $3.2 billion investment and generated employments for 35,000 people.

He expressed hope that the CEZ would dedicate 50 per cent of its area to foreign investors.

Mr Mostafa Kamal drew the government's attention to address gas crisis to facilitate operations of industrial units in the country.

Some foreign companies from various countries already expressed interest to set up their industrial units in the CEZ, he added.

The privately-owned industrial park is the third EZ, operated by MGI, and 12th private EZ to receive the final licence.

The CEZ is situated in Meghna upazilla of Cumilla district and close to the Dhaka-Chattagram Highway. It spreads over 350 acres of land, of which around 246 acres will be prepared in the first phase.

There will be a total of 116 industrial plots in it, ranging from one acre to six acres. The industrial zone is expected to start commercial operations within next year.

The CEZ will have its own power stations, water supply system, Common Effluent Treatment Plant (CETP), Sewage Treatment Plant (STP), Water Treatment Plant (WTP), and natural gas supply from the state-owned gas distribution company Titas.

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